Nordstrom Suspends Plan to Take Company Private

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The ex-dividend date was Thursday the 24th of August 2017. (NYSE:JWN) by 51.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm has "Buy" rating by KeyBanc Capital Markets given on Wednesday, October 11.

JWN has been the topic of several other reports. Wolfe Research lifted their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of Nordstrom from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 28th.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 10th. Sources said the family believed it could better manage the company's operational restructuring and transition to e-commerce away from the public markets.

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Shares last traded at $42.65 just below the 50 day moving average which is $45.50 and which is a tad under the 200 day moving average of $45.79. The stock's market capitalization is 6.78B, it has a 52-week low of 39.53 and a 52-week high of 62.82. Ariel Investments LLC now owns 1,215,593 shares of the specialty retailer's stock worth $56,610,000 after buying an additional 357,644 shares during the last quarter. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.70 billion. Short shares decreased 761,604 over that period. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. As of the last earnings report the EPS was $2.11 and is expected to be $2.98 for the current year with 166,239,000 shares now outstanding. "(JWN)" was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and global copyright law. The original version of this article can be read at https://baseballnewssource.com/markets/keycorp-analysts-give-nordstrom-inc-jwn-a-55-00-price-target/1708672.html.

Here are a few institutional investors who have updated their positions. Winslow Asset Management Inc claims 115,824 shares with a value of $5,461,000. Wells Fargo & Company MN boosted its stake in shares of Nordstrom by 26.5% in the first quarter. Landing the additional financing, though, had reportedly been a challenge given the current state of retail.

The $2 billion of bonds issued by specialty pet retailer PetSmart in May to finance its $3 billion acquisition of online rival Chewy have suffered steep losses. Finally, Sei Investments Co. raised its stake in Nordstrom by 32.0% during the 2nd quarter. Patten & Patten Inc/tn downsized its stake by selling 200 shares a decrease of 2.1% as of 09/30/2017.

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